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An initial public offering of 6.7 million shares in London has brought in $12.1 million for Electrical Geodesics. The Eugene, Ore.-based company, which is working on devices for noninvasive brain monitoring and analysis using its patented dense array electroencephalography technology, will apply the money mainly to increase its sales channel.

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Titan Medical's agent Bloom Burton & Co. intends to issue 14 million to 16 million shares in an offering announced last week, in hopes of raising $10.6 million to $12.1 million, according to a prospectus supplement filed with the SEC. Titan Medical will use the proceeds to support the development of its Sport surgical system as well as for working capital.

The National Cancer Institute has awarded a $12.1 million grant to Penn Medicine and Wistar Institute researchers to further their study of melanoma. The five-year Specialized Programs of Research Excellence grant will go toward four new projects researching possible therapies for skin cancers including melanoma.

The amount that Signal Genetics seeks to obtain in its planned initial public offering has been increased from about $9.3 million to as much as $12.1 million. The New York-based company is the maker of the Myeloma Prognostic Risk Signature assay, a microarray-based gene expression test used for asymptomatic monoclonal gammopathies.

Timberland Bancorp has received approval from the Federal Reserve to buy back its remaining shares in the Troubled Asset Relief Program for about $12.1 million. The bank is expected to redeem its shares Friday.

The Department of Energy awarded a $12.1 million grant to a genomics-driven research project that will look into the genetic and molecular characteristics of grass species Setaria viridis, which has the potential to become an important bioenergy crop. The project will seek genes that could enhance the drought resistance of related feedstock grasses.